Pakistan’s IT Industry Is Growing Fast: Here’s Why You Should Care.
Pakistan’s information technology (IT) sector is growing fast and offers excellent potential for foreign investors. The Pakistani government has made significant efforts to develop the IT sector and create a favourable environment for foreign investors. The country’s large, relatively youthful population and strong computer skills are key drivers of the sector’s growth. Pakistan’s IT exports totalled $1.5 billion in 2016 and are projected to reach $2.5 billion by 2022.
The Pakistani government especially the PTI government has identified the development of the IT sector as a key priority, and the sector has seen rapid growth in recent years. According to industry figures, IT exports totalled $1.5 billion in 2016 and are projected to reach $2.5 billion by 2022, placing Pakistan among the top 20 countries in terms of IT exports. The strong growth is being driven by several factors, including the country’s large population (200 million people), its relatively young population (over 60 percent of the population is under 30 years old).
Pakistan’s Information and Technology (IT) sector is growing rapidly. It is one of the country’s most promising economic sectors, with a bright future ahead. If you are not convinced, here are two reasons why you should start caring about Pakistan’s IT industry.
Table of Content
- 1. The IT sector is one of the country’s most promising economic sectors.
- 2. The IT sector is creating jobs for young people.
1. The IT sector is one of the country’s most promising economic sectors.
According to a report by the World Bank, the Pakistani IT sector has the potential to become one of the largest and most productive in the region. The report noted that the Pakistani IT sector has been recording impressive growth rates in recent years, with a potential to grow even further.
The Pakistani IT sector is expected to grow from its current size of $1.5 billion to $2.5 billion by 2020. The sector currently employs over 120,000 people, and this number is expected to grow to 300,000 by 2020. The growth of the sector is being driven by the increasing use of digital technologies across all sectors of the economy, as well as the rising demand for IT services from abroad.
Pakistan has a large pool of skilled engineers and software developers, and these resources are being put to good use in the IT sector. Pakistani firms are also becoming increasingly competitive in terms of cost, which is helping them win business from foreign clients. The IT sector has the potential to play a major role in Pakistan’s overall economic growth in the years ahead.
Monthly Technology exports witnessed at USD 249mn during Apr’22, up by 29% YoY while down by 4% MoM.
— Arif Habib Limited (@ArifHabibLtd) May 20, 2022
During 10MFY22, technology recorded exports worth $ 2.2bn marking a 29% YoY jump.#PakistanMovingForward@StateBank_Pak#Pakistan #Economy #AHL pic.twitter.com/8mLUFJqjM5
2. The IT sector is creating jobs for young people.
The IT sector is creating jobs for young people. Employment opportunities in the IT sector are growing as new technologies are developed and businesses adopt innovative approaches to doing business. For young people who are interested in working in the technology industry, this presents a great opportunity to start a career with lots of potential for advancement.
The IT sector is creating jobs for young people at an impressive rate. In fact, according to a report by P@SHA (the Pakistan Software Houses Association), the number of people employed in Pakistan’s software industry surpassed 100,000 in 2016. This makes the IT sector one of the largest employers of young people
